Proshares Russell 2000 Etf Market Value
| SMDV Etf | USD 73.70 1.05 1.45% |
| Symbol | ProShares |
The market value of ProShares Russell 2000 is measured differently than its book value, which is the value of ProShares that is recorded on the company's balance sheet. Investors also form their own opinion of ProShares Russell's value that differs from its market value or its book value, called intrinsic value, which is ProShares Russell's true underlying value. Investors use various methods to calculate intrinsic value and buy a stock when its market value falls below its intrinsic value. Because ProShares Russell's market value can be influenced by many factors that don't directly affect ProShares Russell's underlying business (such as a pandemic or basic market pessimism), market value can vary widely from intrinsic value.
Please note, there is a significant difference between ProShares Russell's value and its price as these two are different measures arrived at by different means. Investors typically determine if ProShares Russell is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, ProShares Russell's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.
ProShares Russell 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to ProShares Russell's etf what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of ProShares Russell.
| 10/23/2024 |
| 11/22/2024 |
If you would invest 0.00 in ProShares Russell on October 23, 2024 and sell it all today you would earn a total of 0.00 from holding ProShares Russell 2000 or generate 0.0% return on investment in ProShares Russell over 30 days. ProShares Russell is related to or competes with Invesco PureBeta, Oppenheimer Russell, Morningstar Unconstrained, High-yield Municipal, Thrivent High, Via Renewables, and T Rowe. Under normal circumstances, the fund will invest at least 80 percent of its total assets in component securities of the ... More
ProShares Russell Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure ProShares Russell's etf current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess ProShares Russell 2000 upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 0.923 | |||
| Information Ratio | 0.0266 | |||
| Maximum Drawdown | 9.2 | |||
| Value At Risk | (1.58) | |||
| Potential Upside | 1.84 |
ProShares Russell Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for ProShares Russell's investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as ProShares Russell's standard deviation. In reality, there are many statistical measures that can use ProShares Russell historical prices to predict the future ProShares Russell's volatility.| Risk Adjusted Performance | 0.086 | |||
| Jensen Alpha | (0.01) | |||
| Total Risk Alpha | (0.04) | |||
| Sortino Ratio | 0.0393 | |||
| Treynor Ratio | 0.0939 |
Sophisticated investors, who have witnessed many market ups and downs, anticipate that the market will even out over time. This tendency of ProShares Russell's price to converge to an average value over time is called mean reversion. However, historically, high market prices usually discourage investors that believe in mean reversion to invest, while low prices are viewed as an opportunity to buy.
ProShares Russell 2000 Backtested Returns
At this stage we consider ProShares Etf to be very steady. ProShares Russell 2000 maintains Sharpe Ratio (i.e., Efficiency) of 0.082, which implies the entity had a 0.082% return per unit of risk over the last 3 months. We have found twenty-nine technical indicators for ProShares Russell 2000, which you can use to evaluate the volatility of the etf. Please check ProShares Russell's Risk Adjusted Performance of 0.086, coefficient of variation of 935.23, and Semi Deviation of 0.7812 to confirm if the risk estimate we provide is consistent with the expected return of 0.11%. The etf holds a Beta of 1.45, which implies a somewhat significant risk relative to the market. As the market goes up, the company is expected to outperform it. However, if the market returns are negative, ProShares Russell will likely underperform.
Auto-correlation | 0.21 |
Weak predictability
ProShares Russell 2000 has weak predictability. Overlapping area represents the amount of predictability between ProShares Russell time series from 23rd of October 2024 to 7th of November 2024 and 7th of November 2024 to 22nd of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of ProShares Russell 2000 price movement. The serial correlation of 0.21 indicates that over 21.0% of current ProShares Russell price fluctuation can be explain by its past prices.
| Correlation Coefficient | 0.21 | |
| Spearman Rank Test | 0.06 | |
| Residual Average | 0.0 | |
| Price Variance | 0.39 |
ProShares Russell 2000 lagged returns against current returns
Autocorrelation, which is ProShares Russell etf's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting ProShares Russell's etf expected returns. We can calculate the autocorrelation of ProShares Russell returns to help us make a trade decision. For example, suppose you find that ProShares Russell has exhibited high autocorrelation historically, and you observe that the etf is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
ProShares Russell regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If ProShares Russell etf is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if ProShares Russell etf is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in ProShares Russell etf over time.
Current vs Lagged Prices |
| Timeline |
ProShares Russell Lagged Returns
When evaluating ProShares Russell's market value, investors can use the concept of autocorrelation to see how much of an impact past prices of ProShares Russell etf have on its future price. ProShares Russell autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, ProShares Russell autocorrelation shows the relationship between ProShares Russell etf current value and its past values and can show if there is a momentum factor associated with investing in ProShares Russell 2000.
Regressed Prices |
| Timeline |
Thematic Opportunities
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Check out ProShares Russell Correlation, ProShares Russell Volatility and ProShares Russell Alpha and Beta module to complement your research on ProShares Russell. You can also try the USA ETFs module to find actively traded Exchange Traded Funds (ETF) in USA.
ProShares Russell technical etf analysis exercises models and trading practices based on price and volume transformations, such as the moving averages, relative strength index, regressions, price and return correlations, business cycles, etf market cycles, or different charting patterns.